Piramal announces consolidated results for half year ended September 30, 2019

Resilient performance during the quarter

Piramal, Resilient, Revenue, Ajay Piramal, Piramal Enterprises, NBFC sector, Pharma, Healthcare

Piramal Enterprises Limited (‘PEL’, NSE: PEL, BSE: 500302) has announced its consolidated results for the Second Quarter (Q2) and Half Year (H1) ended 30th September 2019. The pharma and healthcare insights businesses continue to consistently deliver strong performance quarter on quarter, acting as a natural hedge and bringing stability to the company’s performance, even in the most volatile market environment. The pharma revenues grew 19% YoY to INR 1,316 Crores in Q2:

The financial highlights are:

• Revenue: 
Up 15% at INR 3,604 Crores during Q2 FY2020 vs INR 3,144 Crores in Q2 FY2019
Up 18% at INR 7,110 Crores during H1 FY2020 Vs INR 6,047 Crores in H1 FY2019

• Profit before Tax & Exceptional items
Up 29% to INR 733 Crores in Q2 FY2020 vs. INR 570 Crores in Q2 FY2019
Up 25% to INR 1,338 Crores in H1 FY2020 vs. INR 1,073 Crores in H1 FY2019

• Net Profit1:
Up 18% to INR 569 Crores in Q2 FY2020 vs. INR 480 Crores in Q2 FY2019
Up 19% at INR 1,029 Crores during H1 FY2020 vs INR 863 Crores in H1 FY2019

Note: 1) Net Profit excludes exceptional gain/loss for the period
Ajay Piramal, Chairman, Piramal Enterprises Ltd. said, “Our diversified business model has enabled us to deliver resilient performance during this quarter, despite continued liquidity tightening in the NBFC sector. The strong fundamentals of the company are reflected in our H1 and Q2 results.”